Time is running out to secure up to £2 million with 70% government backing. No personal residence security required. Applications close March 2026.
Check your eligibility today before this opportunity ends.
The Growth Guarantee Scheme is designed for UK small and medium-sized businesses. Whether your business turns over £50,000 or £40 million per year, you can apply, as long as your annual turnover doesn’t exceed £45 million.
Whether you’re in retail, manufacturing, professional services, hospitality, or technology, if your business needs finance for growth, working capital, or investment, you can apply.
The scheme is deliberately inclusive. From start-ups to established companies, if you’re UK-based and trading, you’re likely eligible. The government backing means businesses that might struggle with traditional lending can often secure approval.
Purchase or upgrade essential tools, machinery, and equipment to improve productivity and efficiency.
Buy or lease commercial vehicles, vans, or company cars to support your operations and deliveries.
Expand or relocate your workspace, open new locations, or invest in property improvements.
Manage cash flow and operational costs while maintaining financial stability during growth periods.
Purchase inventory and stock to meet customer demand, seasonal peaks, or new product launches.
Hire new employees and invest in team development and training to support business growth.
The Growth Guarantee Scheme closes to new applications on 31 March 2026. This is a firm deadline set by the British Business Bank announced in Spring Budget 2024. Applications submitted after this date will not be accepted or processed.
This deadline applies to all businesses and all sectors. Once the scheme closes, the opportunity to access government-backed funding with a 70% guarantee, no home security requirement, and competitive interest rates (typically 6% to 15% depending on your business profile) will no longer be available.
Interest rates under the Growth Guarantee Scheme are generally more favourable than standard commercial loans because of the government backing, making this a particularly attractive financing option for growth-focused businesses.
Application window remains open
Final deadline for all new applications
The scheme will no longer accept new applications
Important: Plan Your Application Timeline Processing times vary based on loan amount.
Applications typically take 1 to 5 weeks to process from submission to decision. To ensure your application is reviewed before the GGS application deadline, we recommend applying by early February 2026.
The earlier you apply, the better. Having your documents ready (accounts, bank statements, and ID) will also help speed things along.
* Time-frames for approval are subject to many other factors including but not limited to having the right documentation in order and which lender you apply through.*
Complete the enquiry form at the top of this page or contact our team directly.
We’ll discuss:
This initial conversation helps us understand your requirements and confirm whether the Growth Guarantee Scheme is the right option for your business.
This is where Funding Bay does the heavy lifting. Our team will:
You don’t submit anything directly to lenders – we handle all of that for you. We’ll guide you on which documents we need (typically 2 years of accounts, bank statements, ID, and business plan details).
Once we’ve submitted your application, lenders conduct their assessment.
Processing times depend on your loan amount:
During this period, lenders review your business financials, credit history, and funding purpose. If lenders need any additional information, we handle all communication with them – you deal only with Funding Bay throughout the entire process.
IF APPROVED:
We’ll present you with the formal loan offer, explaining the interest rate, repayment terms, and any conditions in plain English. Once you’re happy and accept the offer, funds are typically transferred to your business account within 3 to 5 working days.
IF NOT APPROVED:
We’ll explain the lender’s decision and immediately explore alternative funding options from our network of lenders. As specialists in business finance, we often find suitable alternatives even when one option doesn’t work out.
Complete the enquiry form at the top of this page or contact our team directly.
We’ll discuss:
This initial conversation helps us understand your requirements and confirm whether the Growth Guarantee Scheme is the right option for your business.
This is where Funding Bay does the heavy lifting. Our team will:
You don’t submit anything directly to lenders – we handle all of that for you. We’ll guide you on which documents we need (typically 2 years of accounts, bank statements, ID, and business plan details).
Once we’ve submitted your application, lenders conduct their assessment.
Processing times depend on your loan amount:
During this period, lenders review your business financials, credit history, and funding purpose. If lenders need any additional information, we handle all communication with them – you deal only with Funding Bay throughout the entire process.
IF APPROVED:
We’ll present you with the formal loan offer, explaining the interest rate, repayment terms, and any conditions in plain English. Once you’re happy and accept the offer, funds are typically transferred to your business account within 3 to 5 working days.
IF NOT APPROVED:
We’ll explain the lender’s decision and immediately explore alternative funding options from our network of lenders. As specialists in business finance, we often find suitable alternatives even when one option doesn’t work out.
The Growth Guarantee Scheme closes to new applications on 31 March 2026. This was announced in the Spring Budget 2024 and the scheme is administered by the British Business Bank on behalf of the UK government.
As of the most recent government announcements, the Growth Guarantee Scheme is scheduled to close on 31 March 2026. There has been no official announcement regarding an extension beyond this date.
Businesses requiring government-backed finance should plan to apply before the confirmed deadline.
The Growth Guarantee Scheme is designed for UK businesses with turnover of up to £45 million.
The scheme is available to most business sectors and supports various business structures including sole traders, corporations, limited partnerships, limited liability partnerships, and co-operatives.
Each lender conducts their own credit and fraud checks as part of the application process.
Principal Private Residences (your home) cannot be taken as security within the Growth Guarantee Scheme. However, personal guarantees can be taken at the lender’s discretion, in line with their normal commercial lending practices.
Businesses that previously received Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS), or Recovery Loan Scheme (RLS) facilities are not prevented from accessing the Growth Guarantee Scheme.
However, previous borrowing under these schemes may reduce the maximum amount you’re eligible for under the Growth Guarantee Scheme.
Please pop your details in the form below and we’ll get back to you within 24 hours.
Please pop your details in the form below and we’ll get back to you within 24 hours.
